This is an update of my 2nd Jan. 9th blog post, “Next Upside Target for U. S. Equities”, q.v.  This is a monthly bars chart, and I’ve changed the display to CandleVolume from the more barebones EquiVolume in order to show the insights of candlesticks.  That TopFinder is still properly fit, as it must just touch the lower right corner of where the EquiVolume price box would be, and it does.

Price has bounced down from the primary resistance curve, and is sharply down.  In my previous post here today, the weekly bars chart, we see a significant breakdown, but on this longer term chart, that breakdown isn’t visible (yet).  The TopFinder is now 83% complete, and if average monthly trading volume continues as it has been recently, the TopFinder will end at the dotted vertical line in about 2 to 3 months.  Price could very well remain confined below this primary R curve for the duration.

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